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EXPLORATION & DEVELOPMENT

EQ reveals excellent headline metrics for Mt Carbine tungsten mine

Action in the pit in FNQ set to start apace next month

Michael Quinn

This article is 1 year old. Images might not display.

The metrics were calculated in new feasibility work following a 43% increase open cut reserves that will see a doubling of plant capacity from 2025.

EQ is currently do grade control drilling and says it will start mining next month.

The company had $5.93 million at the end of March.

During that quarter it completed two drawdowns of $5 million from Regal Resources Royalties Fund under the terms of a total $10 million royalty-based funding package for Mt Carbine.

Shares in EQ were down 6% to 6.6c in late trade Monday, capitalising the company at $97 million.

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